The Open Network (TON) Foundation, a nonprofit organization dedicated to the long-term success of the Toncoin (TON) ecosystem, has clarified that there is no official deal with the government of the United Arab Emirates (UAE). The TON Foundation has highlighted that the previous rumors that a Golden Visa program for the Toncoin holders is not true.
However, the TON Foundation indicated that such a collaboration is in the early stages of development.
“We fully support the joint statement issued by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), which confirms that no digital residency or investment visa initiatives have been formally approved or launched in partnership with the UAE government,” the announcement noted.
TON Price Tumbles on the Announcement
Following the announcement that the rumors of the UAE government supporting the TON ecosystem are false, the Toncoin price dropped over 5 percent in the past 24 hours to trade at about $2.77 on Monday, July 7 during the mid-North American session.
The large-cap altcoin, with a fully diluted valuation of about $14.2 billion and a 24-hour average trading volume of around $330 million, has been forming a macro and mid-term bullish sentiment.
In the daily timeframe, TON price has established a support level around $2.7, which has resulted in double-bottom coupled with bullish divergence of the Relative Strength Index (RSI). For the bullish momentum to be confirmed, TON price must consistently close above the falling logarithmic resistance level established year to date.
In case the support range between $2.5 and $2.7 is violated in the coming weeks, TON price could likely drop to the next liquidity target around $2.3.
XRP price managed to retake the $2.3 level on Wednesday US SEC decision to delay altcoin spot ETF decision triggered an initial pullback towards $2.24. Can Ripple CEO, Brad Garlinhouse’ latest product proposal spur more gains in the days ahead?
XRP has maintained its footing above the $2.00 mark this week, even as the U.S. Securities and Exchange Commission (SEC) postponed its decision on multiple altcoin ETFs.
Ripple (XRP) Price Action| Source: Coingecko
On Tuesday, April 29, Ripple price is floating between $2.01 and $2.17, reflecting a 4.2% gain over the past seven days, signalling that the intially sell-off after the SEC announced the delayed verdict.
The delay in ETF decisions, particularly affecting Solana, Cardano, and Avalanche, and XRP. This intitaily caused a capital rotation back into BTC and ETH, as XRP price plunged to a daily timeframe low of $2.3
However, Bloomberg analyst Eric Balchunas confirmed that the delay were part of normal review procedure of the SEC, reitarating high chances of approval. Following this, altcoin markets regained balances, with XRP price risking 1.7% to retake the $2.30 level at press time.
Ripple Founder Salary Proposal Inspires Payment Model Shift
Ripple CEO Brad Garlinghouse has reignited conversation around blockchain’s XRP’s real-world use cases. An X post shared by prominent analyst “CryptoSensei” showed Brad Garlinghouse proposing a new Salary model for workers globally.
“Why not get paid daily, hourly, or even by the second? – Garlinghouse asked.
The idea centers on eliminating outdated friction in global payments. Garlinghouse argued that the current monthly or biweekly paycheck system exists only due to settlement lag in traditional finance. In contrast, Ripple’s on-chain payments infrastructure could enable seamless, real-time compensation flows.
With RippleNet and the XRP Ledger already enabling low-cost, cross-border payments, analysts believe Garlinghouse’s idea could become a core use case for XRP. Enabling Real-time salary estimation and micro-payments would position XRP more major gains and international adoption.
This proposal may have contributed to XRP’s intraday price recovery above the $2.30 level at the time of publication on Wednesday.
XRP Price Forecast: Can Ripple Founder’s Proposal Drive XRP Price to $5?
The $5 XRP price target is gaining traction once again, as both technical patterns and market narrative momentum align for a mild rebound above $2.30 on Wednesday.
Garlinghouse’s salary streaming proposal could ignite interest among fintech leaders and institutional players exploring payroll automation. If Ripple successfully launches real-world applications of micro-wage payments via XRP, the coin could instantly evolve from a speculative asset into a core financial utility.
Short-Term XRP Technical Outlook: Momentum Builds but Resistance Looms at $3.50
XRP is currently trading at $2.2499, having posted a marginal daily gain of +0.53%. The asset is trading just below the Keltner Channel midline resistance of $2.3877, a level that will likely serve as the first major hurdle for bullish continuation.
The Relative Strength Index on Moving Average (RSIOMA) shows bullish convergence:
RSI is currently at 68.87, approaching the overbought zone.
The RSI MA has trended higher to 54.55, supporting ongoing momentum.
A bullish crossover occurred mid-April, and the green histogram continues to widen, suggesting sustained buyer interest. However, volume has yet to show explosive growth, with daily trading volumes capped at 18.58M, indicating the current rally is still fragile without stronger accumulation support.
Key Technical Levels:
Support: $2.17 (Keltner mid-band), followed by $1.96
Resistance: $2.39 (Keltner upper band), and psychological threshold at $2.50
RSI Critical Zone: A break above 70 could accelerate buying pressure
XRP Price Forecast
If Ripple executes its payroll automation vision using XRP as a settlement token, market perception could shift dramatically.
Utility-driven narratives are likely to attract institutional flows, particularly if the model demonstrates cost savings and scalability across borders.
In such a scenario, technical targets beyond $3.50 toward the $5 mark become realistic over the next 6–12 months—conditional on:
Regulatory clarity in the U.S. and Europe
Stablecoin legislations in progress and sustained partnerships with enterprise clients
Continued growth in on-chain settlement volume
Conclusion
While XRP’s breakout toward $5 remains speculative in the short term, both technical momentum and growing utility narratives offer a compelling setup. A breakout above $2.39 with volume confirmation could mark the next leg up.
Dogecoin (DOGE) price has been underperforming due to capital rotation to new meme coins, but a trend reversal is now looming. Technical analysis, on-chain data, and macro factors suggest that it might make a parabolic 135% surge to $0.40 before May ends.
DOGE value today remains flat with a modest 0.05% gain to trade at $0.174 with an intraday low of $0.169. The meme coin’s volatility has also been notably low over the past week, as traders adopt a “sit-and-wait” approach after Bitcoin’s rally to $96,000 sparked speculation about the return of a bull market.
DOGE/USDT: 4-Hour Chart
Despite the choppy moves, three factors have aligned and tease towards a price rally for Dogecoin to as high as $0.40, with this upswing expected to occur in the coming weeks.
Dogecoin Price Closes a Monthly FVG Gap
Dogecoin price is showing signs of strength, according to a recent X post by analyst Polaris.xbt on X who noted that it had closed a monthly FVG gap, and it was now trading within a stable consolidation range that could spark an upward breakout.
In his analysis, he stated that the Dogecoin price forecast is positive, and if it can defend support at the bottom range of this consolidation zone, it faces the next major hurdle at $0.22. If it breaks out from this resistance level, it may enter a sustained uptrend past $0.40, which will mimic the DOGE ETF approval rally.
Dogecoin Price Chart
Conversely, if DOGE fails to make a clean breakout from the current consolidation zone and slips, it faces critical support at $0.10, at which point it will have wiped out the entire Q4 rally triggered by President Trump’s election.
On-Chain Data Signals DOGE Price Bottom
Besides technical analysis, data from Santiment, specifically the Market Value to Realized Value (MVRV) ratio, suggests that the price of Dogecoin may have hit a local bottom, a factor that often precedes an upward recovery.
DOGE 365D MVRV Ratio
At press time, the 365-day MVRV had plunged to -37%, indicating that most holders are underwater, which suggests that the top meme coin is undervalued and may make a strong upward trend. Doing so will mirror past patterns, like in the second half of 2024, whereby DOGE went on a parabolic rally after the MVRV signalled a bottom.
DOGE ETF Approval Odds Hit 64%
The high approval odds for a spot Dogecoin ETF might also catalyze the next bullish break for price, as Polymarket reveals that the approval odds now stand at 64%. Meanwhile, Bloomberg analysts stated that there is an 80% chance of a DOGE ETF approval for the three issuers that have filed for the product.
Polymarket
As optimism towards the approval of this product increases, Dogecoin is likely to make an upward breakout in May 2025. Moreover, as Coingape recently reported, DOGE will rally significantly if it captures 30% to 50% of spot Bitcoin ETF inflows.
Summary
Dogecoin price is on the verge of a major rally as three signals suggest that the meme coin may reach $0.40 in May 2025. The closure of a monthly FVG gap, the 365-day MVRV ratio, and the increased odds of a spot DOGE ETF approval hint that it may have hit a local bottom and now eyes gains.
